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Broker for UK resident - Alpari

Discussion in 'Beginners Bootcamp' started by shortbleu, Jan 23, 2010.

  1. shortbleu

    shortbleu Recruit

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    Hi all, this is my first post on this website.
    I live in the UK and I am in the process to open an account with Alpari.co.uk.
    I read the borker reviews on Alpari and they seem good, any other opinion would be welcomed before I deposit the funds.

    I chose Alapari because they are regulated by the Financial Services Authority and part of the Financial Services Compensation Scheme, so they seem quite secure.
    I will open the account with only a only a few '000s GBP to start with and because I trade long term with low leverage (5:1 max, usually less), I need the micro lots that are available with Alpari. In a few months, I expect to deposit more (a few 0'000s GBP) so really need a secure and regulated broker that is part of the Financial Services Compensation Scheme.
    I can open a GBP account with Alpari. Since I am taking long term positions, the rollover prices need to be fair. Their rollover credit/debit policy seem okay.
    I am not a day/swing trader but a long term trader, I am looking to do some carry trades over the long term, I would do only a few trades per year. Profit targets are 1,000+ pips, so spreads and slippage do not really matter too much.

    Do you think Alpari would suit my needs and style?

    Thanks
     
    #1 shortbleu, Jan 23, 2010
    Last edited: Jan 23, 2010
  2. Bowmaker

    Bowmaker Private, 1st Class

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    I use Alpari Uk and have had no issues. I suggest you try 100 Forex Brokers. Here you can check out how each match your criteria
     
  3. Pharaoh

    Pharaoh Colonel

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    The main complaints I've heard about Alpari are spreads and slippage, but your trading style makes those so much less of an issue.

    Still, I'd recommend keeping the account small at first, try to get a couple of profitable trades in, and see if they give you any grief on a withdrawal or two.

    If they don't work out, this can help you select a replacement:

    http://www.forexpeacearmy.com/forex-forum/forex-basics-boot-camp/2333-how-select-forex-broker.html

    Good luck and make sure to let everyone know how it goes.
     

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